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With explanation. Urgent!! e.g.2A 5% 10-year loan of 10,000...

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Accounting

With explanation. Urgent!! image
e.g.2A 5% 10-year loan of 10,000 is to be paid by the sinking fund method, with interest and sinking fund payments made at the end of each year. The effective rate of interest earned in the sinking fund is 3% per annum. Immediately before the fifth payment is due, the lender requests that the loan be repaid immediately. Calculate the net amount of the loan at that time

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